The former president was found to have defrauded lenders.
Former President Donald Trump has been fined $354.8 million plus approximately $100 million in interest in a civil fraud lawsuit that could alter the personal fortune and real estate empire that helped propel him to the White House. In the decision, Judge Arthur Engoron excoriated Trump, saying the president's credibility was "severely compromised," that the frauds "shock the conscience" and that Trump and his co-defendants showed a "complete lack of contrition and remorse" that he said "borders on pathological."
Engoron also hit Donald Trump Jr. and Eric Trump with $4 million fines and barred all three from helming New York companies for years. New York Attorney General Letitia James accused Trump and his adult sons of engaging in a decade-long scheme in which they used "numerous acts of fraud and misrepresentation" to inflate Trump's net worth in order get more favorable loan terms. The former president has denied all wrongdoing and has said he will appeal.
Donald Trump and his adult sons were hit with millions in fines in the civil fraud trial and barred for years from being officers in New York companies. The judge said the frauds "shock the conscience."
Donald Trump: $354 million fine + approx. $100 million in interest
+ barred for 3 years from serving as officer of NY company
Donald Trump Jr.: $4 million fine
+ barred for 2 years from serving as officer of NY company
Eric Trump: $4 million fine
+ barred for 2 years from serving as officer of NY company
Former Trump Organization CFO Allen Weisselberg: $1 million fine
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company
Former Trump Organization controller Jeffrey McConney:
+ barred for 3 years from serving as officer of NY company
+ barred for life from financial management role in NY company
Unlike her father and brothers, who, when they testified, were photographed by news photographers at the defense counsel table alongside their lawyers before taking the stand, Ivanka Trump appears to have avoided her courtroom photo opportunity.
While her father and brothers are defendants in the case, Ivanka Trump is a third-party witness. No photographers were allowed in the courtroom this morning.
"The people call Ivanka Trump," state attorney Louis Solomon said.
"Who's she?" Judge Arthur Engoron responded jokingly.
After a few awkward minutes of waiting, Ivanka Trump entered the courtroom, walked toward the judge, and took her place in the courtroom's witness box. She did not address or make eye contact with Letitia James as she passed the New York attorney general.
"Do you solemnly swear or affirm that any testimony you give will be the truth, the whole truth and nothing but the truth?" a court officer asked her.
"I do," she responded with her right hand raised.
Speaking to reporters outside court this morning, New York Attorney General Letitia James said that today's testimony will demonstrate that Ivanka Trump personally benefited from the fraud that a judge has ruled her family committed.
"We uncovered the scheme and she benefited from it personally," James told reporters. "And Ms. Trump will do all that she can to try to separate herself from his corporation, but she is inextricably tied to the Trump Organization and to these properties that she helped secure financing for."
James has taken a seat in the front row of the courtroom's gallery, feet from her team of lawyers at the state's counsel table.
Louis Solomon, the chief of the New York attorney general's real estate finance division, is expected to lead the questioning of Ivanka Trump.
Solomon led Ivanka's Trump deposition in August 2022, where she denied being involved in her father's financial statements that are at the center of the case.
Earlier in the trial, Solomon led a contentious direct examination of former Trump Organization CFO Allen Weisselberg, who frequently struggled to answer questions about who was responsible for various financial decisions at the company.
Solomon has frequently sparred with Donald Trump's lawyers during the trial, including a heated exchange after multiple members of the state team tested positive for COVID-19 during the proceedings.
"Everything in this courtroom concerns me and my client, including your health," defense lawyer Chris Kise said.
"Thanks for your concern," Solomon responded offhandedly.
